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The great thing about the GameStop situation is that a group of seemingly young regular folk has beaten what many consider some of the smartest people on Wall Street which are hedge fund managers. Hedge funds are basically a trading group for wealthy individuals.......
They’re considered complex traders and to even be apart of a hedge fund you need a certain amount of wealth to so called manage against any losses you may sustain because they supposedly take more chances. So it’s absolutely great to see a bunch of unknowns beating the system...
The only reason I know so much about hedge funds is because I once wanted to start a hedge fund for englewood to try and gain some wealth in the community. So I approached this intelligent brother who graduated from the business school of the university of Chicago....
He quickly explained to me how hedge funds work and it’s unlikely that we’ll meet the threshold needed to start one. So that made me educate myself even more about what it is they do because I obviously had no idea by suggesting that to the brother...
Anyway while working for the union I quickly realized how powerful they were. I’ve seen the do a hostile takeover of a railroad. Where they just increased purchasing stock until they owned a certain percentage and can place board members on the board....
Once they placed their desired board members on a board they eventually remove the CEO and replace them with someone to carry out their plans of streamlining a company which mostly means getting rid of workers and cutting cost. So to me watching one get beat down is glorious
